Visa CC Application and Solicitation Disclosure

The Visa CC Application and Solicitation Disclosure 09092024 filing from Selfreliance Federal Credit Union sets out a 14.9% purchase APR, no annual fee and a 18% penalty rate. The purchase rate sits at roughly the 14th percentile of the 4,587 agreements indexed here.

What the agreement puts on the record

The document behind this page is Selfreliance Federal Credit Union's filed agreement for Visa CC Application and Solicitation Disclosure 09092024. The filing runs two pages, and It is issued on the Visa network.

The filing is explicit about a purchase rate, a cash advance rate, a balance transfer rate, a penalty rate and an annual fee line.

Where the purchase APR sits

The purchase APR of 14.9% places this agreement around the 14th percentile of the set — it reads as inexpensive against the rest of the filings.

The arithmetic of revolving

A $1,500 balance left untouched for twelve months accrues about $241 in interest at this purchase rate.

The corpus median purchase rate is 21.99%, which on the same $1,500 would cost about $369 a year. This filing saves roughly $128 annually against that benchmark.

There is also a floor: the filing sets a minimum interest charge of $0.50, so any cycle that accrues less than that is billed at $0.50 anyway.

These figures are arithmetic on the disclosed rate, not a quote: they assume the balance is never reduced, ignore any payments, and take no account of fees charged separately.

Paying in full

Purchases carry a 25-day grace period: pay the statement in full inside it and the purchase rate never applies. That matches the 25-day median across the corpus almost exactly.

The $0.50 minimum interest charge means the effective cost of carrying a very small balance is far higher than the quoted APR implies.

When a payment is late

A penalty APR of 18% sits in this filing, applied when the account falls into default as the agreement defines it. Against the 794 filings here that disclose one, that is roughly the 19th percentile.

A default therefore reprices the debt by 3.1 points: about $73 a year more on $2,000, for as long as the penalty rate stands.

The maximum late fee is $25 — roughly the 32nd percentile of the late fee ceilings disclosed across this index.

Where the fees are

The annual fee is $0. Roughly 75% of filings here that state a fee state zero, so the absence of one is unremarkable in this market.

Taking cash against the card means a cash advance APR of 14.9%.

The transfer fee is $5 or 1.99% of the amount transferred, whichever is greater; transferred balances then run at 14.9%. Transferring $7,500 would cost roughly $149 at the door.

Foreign transactions carry no fee. Only about 22% of the filings here that disclose a foreign transaction fee set it at zero, so this is a genuine point of difference.

The limits of this document

More broadly, a CFPB agreement filing is a legal and pricing document. It does not describe rewards, benefits, sign-up offers, eligibility or approval criteria, and nothing of that kind has been inferred on this page. Where a card has features of that sort, they live outside this document entirely.

Where the authority sits

The original filing, 2 pages long, is linked on this page and should be read before any figure here is acted on. It is also a snapshot: issuers refile as terms change.

In short

At 14.9% the purchase rate is low relative to this corpus, which is the clearest thing the filing has going for it on cost.